The CD, Share Draft, or Share loan configuration screens allow you to offer the member any rate equal to or greater than the current certificate or savings product rate. There is no check on your general rate tolerance settings when configuring a CD Secured loan product. If the rate is tiered, then the member will be offered a different rate on their loan depending on the rate of their deposit account
The amount the member can borrow is limited to the balance of the deposit account minus any amount that is secured, for example for another Deposit Secured loan. There is no minimum loan amount. Members can borrow as little as $1.00.
- NOTE: This amount could potentially exceed the amount allowed by the loan category, as the system only looks at the deposit account itself for the maximum​​​
- For Share and Share Draft Secured Loans, any other miscellaneous holds would also be considered, for example, a hold on a debit card.